SaaS revenues grow strongly; Group well positioned as move to SaaS accelerates
UNIT4, the global business software group, today announced annual results for 2011 which showed increased revenue and the trend towards Software as a Service (SaaS) continuing strongly. Listed on the Amsterdam Stock Exchange, UNIT4 is the world’s leading provider of enterprise software for Businesses Living IN Change (BLINC).
UNIT4 is well known for providing customers in the public and private sectors with software solutions that reduce costs, improve control and enable them to manage rapid and continuous change without the typical costs associated with set-up and customization. This differentiation proved key in growing the number of significant deals (above €1 million), where UNIT4 successfully competed and won against competition from large ‘tier 1’ players in the market. Large deals included Addis Ababa Water and Sewerage Authority in Ethiopia, the City of Oslo in Norway, and Magnox in the UK.
Positive revenue growth in a number of countries exceeded market levels, namely Singapore (+20%), Norway (+15%), North America (+13%), Sweden (+8%) and Benelux (+6%). There was strong activity in both the private and the public sector in these regions.
Highlights for full year 2011:
- Total revenue increased by 8% to €454.7 million (2010: €421.7 million)
- EBITDA, including FinancialForce.com, rose 2.1% to €87.9 million (2010: €86.1 million)
- Earnings per share (before goodwill-related items) rose 7.9% to €1.64
- Net profit (before goodwill) increased 11.1% to €48.0 million (2010: €43.2 million)
- Product revenue increased 10% to €80.0 million (2010: €72.7 million)
- SaaS and subscription revenue grew 45.1%
- Strong performance from FinancialForce.com, with excellent prospects for future growth
- Acquisitions in the year have positioned the company to enter the business analytics market aggressively and to extend market reach in Asia.
FinancialForce.com, UNIT4’s US-based cloud applications company formed with minority investment from salesforce.com, grew strongly in 2011. The annual revenue run rate (including services) was over $9 million by December 2011. The launch of FinancialForce Professional Services Automation (PSA) has added significant value, both in terms of revenue and the strategic direction of the company. Customers are increasingly taking both Accounting and Professional Services Automation (PSA) applications, driving larger average deal sizes. The largest deal secured to date had a total multi-year contract value of almost $1 million. FinancialForce.com has staff in the US, UK and Spain, customers in more than 25 countries, and users in more than 45 countries.
Chris Ouwinga, UNIT4 CEO and Edwin Van Leeuwen, UNIT4 CFO will be presenting the results via a webcast at 1000 CET on 22 February 2012. To join the webcast please visit http://www.unit4.com/Investors/financialinformation
For a full copy of the 2011 results statement, please visit http://www.unit4.com/Investors/investornews